V&W buys 66 percent of W.Kruk

Polish clothing retailer, Vistula and Wólczanka's acquisition battle with jeweler W.Kruk has come to an end with V&W acquiring 66 percent shares in the public tender to take control of the company.

Earlier in May, Vistula launched the hostile bid to buy W.Kruk for zł.23.70, which was rejected by the Kruk family, who owned about 28 percent stake in the company. Last week, V&W raised its offer by three percent to zł.24.50.

Source: Reuters